Category: Companies

Aug 29, 2013 (LBO) – Sri Lanka’s Softlogic Finance said a debenture offer of 500 million rupees was oversubscribed.The bond sale had attracted orders of 527 million rupees from commercial banks, institutions, development banks, institutions and retail buyers. The firm offered bonds paying a fixed rate annually, every six months and monthly. The sale was […]

Aug 26, 2013 (LBO) – RAM Ratings has cut outlook on a ‘BBB’ rating of Sri Lanka’s Sanasa Development Bank Plc, a micro-financier based on a co-operative concept, to ‘stable’ from ‘positive’. “The revision reflects a trend of weakening asset quality amidst an accretion in non-performing loans (NPLs) as well as the Bank’s moderated performance,” […]

Aug 22, 2013 (LBO) – Sri Lanka’s Softlogic Holdings will sell up to a billion rupees in listed debt, the Colombo Stock Exchange said. The company will offer 5 million rupees of rated debt at 100 rupees each, with a option to issue another 5 million if the first tranche is oversubscribed. Subscriptions will open […]

Aug 19, 2013 (LBO) – Sri Lanka’s John Keells Holding’s ‘AAA(lka)’ rating has been confirmed by Fitch with a stable outlook, saying the group has cash reserves and low leverage. -Gross debt/EBITDA at holdco being sustained above 4.0x (FYE13: 0.86x) -Introduction of significant refinancing risk at holdco or group over the medium-term -Impaired business risk […]

Aug 12, 2013 (LBO) – Sri Lanka’s Nawaloka Hospitals Plc will sell 1.5 billion rupees in unsecured listed debt RAM Ratings Lanka said, giving them an ‘A’ rating.RAM Ratings Lanka assigns A rating to Nawaloka Hospital PLC’s proposed Listed, Rated, Unsecured and Redeemable debentures (2013/2023) RAM Ratings Lanka has assigned a long-term issue rating of […]

Aug 11, 2013 (LBO) – The sale of up to three billion rupees in deep discount bonds by Sri Lanka’s Hatton National Bank will open on Aug 23.Fitch Ratings had give the proposed bond an expected rating of ‘AA-‘ same as HNB’s long term rating. The bank is offering 20 million debentures at 100 rupees […]

Aug 08, 2013 (LBO) – An ‘AA’ rating of Sri Lanka’s Sampath Bank has been confirmed by RAM Rating Lanka with a stable outlook.“The ratings are supported by the Bank’s healthy asset quality and good market position,” the rating agency said. “On the other hand, the ratings are temperedby the Bank’s average capitalisation.” RAM said […]

July 29, 2013 (LBO) – Nanda Finance Investment Plc, a small finance company that was recently acquired by Bangladesh-based BRAC micro finance group and Sri Lanka’s LOLC group has been placed on positive rating watch on a possible upgrade by RAM Ratings.RAM said the firm was small, lacked of a clear strategic direction. “However, given […]

June 28, 2013 (LBO) – Fitch Ratings has given an ‘AA-(lka)’ expected rating to a 3.0 billion rupee deep discount debenture to be sold by Sri Lanka’s Hatton National Bank. HNB expects to list the debentures subject to regulatory approvals.The final rating is contingent upon the receipt of final documentation conforming to information already received. […]

May 28, 2013 (LBO) – Subscribers to debentures of Sri Lanka’s Senkadagala Finance Plc, rated BBB+(lka) by Fitch will get up to 180,000 the entire amount asked for, in either fixed or floating rate securities. The firm offered to sell 500 million rupees of debt, upsized to a billion rupees if oversubscribed, and offer closed […]